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AutoSave a SC_EX19_4a_AisetouMagassouba_1 OFF Home Insert Draw Page Layout Formulas Data Review View O Tell me Share O Comments 2010 fx I Define Name v Trace Precedents ... Use in Formula v Trace...

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  1. Liam needs to calculate the monthly payment for a loan to purchase the Charles Street property. Calculate the payment as follows:

a) For the nper argument, use the Term_in_Months (cell D5) to specify the number of periods.

b)For the pv argument, use the Loan_Amount (cell B8) to include the present value.

c)Insert a negative sign (-) after the equal sign in the formula to display the result as a positive amount.

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1941
A
D
E
F
G
H
J
K
M
N
1 New Office Building
2 Loan Calculator
3
Loan Payment Calculator
Scenarios
Renovation
20 Years
8 Years
$ 1,020,000
4 Date
5 Property
6 Price
7 Down Payment
8 Loan Amount
9/15/21 Rate
4.45%
Loan Amount
2$
(920,000)
Charles Street
Term in Months
180
Annual Interest Rate
4.45%
4.25%
4.45%
2$
1,150,000 Monthly Payment
230,000 Total Interest
(920,000) Total Cost
$7,014.45
Month ly Interest Rate
Loan Period in Years
0.37%
0.35%
0.37%
15
20
8
2$
Loan Period in Months
180
240
96
9
Start Date
1/3/22
1/3/22
1/3/22
2 PM
2$
Monthly Payment
Future Value
10
Varying Interest Rates and Terms
(6,000) $
(8,000)
11
Rate
Number of Months
n/a
n/a
12
120
180
240
3.95%
14
4.05%
15
4.15%
16
4.25%
it
17
4.35%
1 PM
18
4.45%
19
4.55%
20
4.65%
21
4.75%
22
4.85%
23
4.95%
24
5.05%
t
25
5.15%
Б РМ
26
27
28
29
30
31
ot
32
33
34
Documentation
Loan Calculator
Properties
Equipment Loan
%3D
Ready
+
100%
Special_Programs_
Transfer...est copy
28 words
English (United States)
Focus
+
180%
 XXXXXXXXXXPM CB XXXXXXXXXXPM XXXXXXXXXXPM
111 11
Extracted text: AutoSave a SC_EX19_4a_AisetouMagassouba_1 OFF Home Insert Draw Page Layout Formulas Data Review View O Tell me Share O Comments 2010 fx I Define Name v Trace Precedents ... Use in Formula v Trace Dependents AutoSum Recently Financial Logical Used Lookup & Math & Reference Watch Date & Time Insert Тext More Name Show Error Calculation Function Trig Functions Manager Create from Selection Remove Arrows v Formulas Checking Window Options Total_Int.. fx 1941 A D E F G H J K M N 1 New Office Building 2 Loan Calculator 3 Loan Payment Calculator Scenarios Renovation 20 Years 8 Years $ 1,020,000 4 Date 5 Property 6 Price 7 Down Payment 8 Loan Amount 9/15/21 Rate 4.45% Loan Amount 2$ (920,000) Charles Street Term in Months 180 Annual Interest Rate 4.45% 4.25% 4.45% 2$ 1,150,000 Monthly Payment 230,000 Total Interest (920,000) Total Cost $7,014.45 Month ly Interest Rate Loan Period in Years 0.37% 0.35% 0.37% 15 20 8 2$ Loan Period in Months 180 240 96 9 Start Date 1/3/22 1/3/22 1/3/22 2 PM 2$ Monthly Payment Future Value 10 Varying Interest Rates and Terms (6,000) $ (8,000) 11 Rate Number of Months n/a n/a 12 120 180 240 3.95% 14 4.05% 15 4.15% 16 4.25% it 17 4.35% 1 PM 18 4.45% 19 4.55% 20 4.65% 21 4.75% 22 4.85% 23 4.95% 24 5.05% t 25 5.15% Б РМ 26 27 28 29 30 31 ot 32 33 34 Documentation Loan Calculator Properties Equipment Loan %3D Ready + 100% Special_Programs_ Transfer...est copy 28 words English (United States) Focus + 180% XXXXXXXXXXPM CB XXXXXXXXXXPM XXXXXXXXXXPM 111 11
Answered 113 days After Jun 03, 2022

Solution

Rochak answered on Sep 24 2022
58 Votes
Sheet1
    New Office Building
    Loan Calculato
    Loan Payment Calculator                    Scenarios    Reneovation    20 Years    8 Years
    Date    9/15/21    Rate    4.45%        Loan Amount    $ 1,020,000        $ (920,000)
    Property    Charles Street    Terms in Months    180        Annual Interest Rate    4.45%    4.25%    4.45%
    Price    $ 1,150,000    Monthly Payment    $ 7,014        Monthly Interest Rate    0.37%    0.35%    0.37%
    Down Payment    $ 230,000    Total Interest    $ ...
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